In August 1982, Mexico was the first of many Latin American countries to default on its sovereign debt. This report covers the main characteristics of the Mexican debt crisis as well as its main causes and triggers.

Curacao is currently facing difficult times, both politically and economically. While economic growth was again disappointing in 2012, Curacao’s political year was characterized with four different prime-ministers and the killing of a politician.

Russia’s fixed exchange rate regime together with its fragile fiscal position appeared to be unsustainable in the course of 1998. By then an outbreak of a severe banking, currency and sovereign debt crisis could not be prevented.

The Italian economy stayed in recession in 13Q2. Sentiment is improving, but domestic demand will be too weak to support growth in the coming quarters. Meanwhile, political turmoil is making markets nervous, which further hampers the recovery.

Tapering talk has sent the Indian rupee to record lows, but India is not a blameless victim. It struggles with fundamental issues constraining economic growth, large twin deficits and declining investor confidence on the back of inadequate reforms.

Russia’s economic growth has continued to slow this year and we expect 2.2% growth in 2013. The central bank is likely to loosen monetary policy amid falling inflation. The government’s stimulus measures are justifiable, but no effect is expected in the very short term.

A strong GDP figure in 13Q2 and rising sentiment levels show that economic conditions are improving. That said, the GDP figure was boosted by temporary factors while the rigid labour market does not show any signs of recovery yet.

A better than expected GDP figure for 13Q2 and rising sentiment levels suggest that economic conditions are improving. That said, a quick housing market and labour market recovery is not on the cards yet.

In 13Q2, the Belgian economy climbed out of recession. The recovery is expected to continue at a gradual pace on the back of stronger external demand. It will probably take a while until the labour market starts to recover.